DISCLAIMER

This research report is prepared by PT MINNA PADI INVESTAMA Tbk for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. The report has been prepared without regard to individual financial circumstance, need or objective of person to receive it. The securities discussed in this report may not be suitable for all investors. The appropriateness of any particular investment or strategy whether opined on or referred to in this report or otherwise will depend on an investor’s individual circumstance and objective and should be independently evaluated and confirmed by such investor, and, if appropriate, with his professional advisers independently before adoption or implementation (either as is or varied).

Selasa, 21 Oktober 2014

Morning Dew - 22 October 2014

Stumbling Block

Euphoria faded with the JCI ended 0.22% lower on Tuesday, a day after the inauguration day of the 7th Indonesian president Joko Widodo. The fall might have been triggered by the delay of the announcement of the new cabinet. The cabinet composition holds the key to the next path of the JCI with a market-friendly cabinet could boost the index and put it back on track of scoring new heights. On the other hand, if the cabinet is not market-friendly, the JCI could backtrack below 4,900.

Blue Bird has set the initial offering price at Rp6,500 per share, significantly lower than its previous indicative price of Rp7,200-Rp9,300 per share.  With the new set price, Blue Bird aims to raise Rp2.4T (vs. initial target of Rp4.94T) from the IPO. The taxi operator will offer 376.5 million shares or 14.2% of its enlarged capital which is scheduled to be listed on November 3rd 2014.

USDIDR fell further to 11,993 from Friday’s close of 12,041.

Earnings Season

ASDM’s 9M14 revenues were up to Rp122.75b from last year’s Rp112.56b, bringing the net profit to Rp24.23b for the 9M14 from Rp18.12b see a year earlier.

PEGE’s 9-month net profit increased to Rp21.63bn from Rp16.69bn seen a year earlier.

ARNAs revenues were up to Rp1.19t against the prior year’s Rp.1.03t.

TCID expects sales to grow 10% in 3Q14 from 3Q13 to Rp1.71T. Sales abroad so far have reached about 30% of total sales with the company currently aims at countries in Indo China as its expansion targets.

Technically Speaking...

JCI  fell to as low as 5,016 on Tuesday and settled the day down 0.22% from Monday’s close.

Downside, the psychological support 5,000 will be the first support, followed by the 200-day EMA at around 4,900 will be the subsequent cushion for the JCI, afterwards support area lies at 4,835-4,840 (prior congestion area).

On the upside, 5,100 is the next resistance, followed by 5,150, 5,200 and another one at 5,251, ahead of the all-time record high at 5,262. 

The MACD continued to tick higher above zero line while the RSI has turned flat after recent rise.

We expect the upside potential remains intact and we could see the index heads back toward 5,100.

Day Ahead

Strong showing on the US and the European fronts could send the Asian stocks up on Wednesday, including the JCI. The setback seen yesterday was expected to have been triggered by the delay of cabinet announcement. Despite various speculations over the names, we may eventually see the cabinet announced this week.

Diposting oleh di 16.34
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